NE LB1166

Amends Section 79-958 of the School Employees Retirement Act to clarify when newly calculated employee contribution rates take effect each year

Employee contribution rate calculated as of July 1, 2025 applies from July 1, 2025 through June 30, 2026; rate calculated July 1, 2026 applies from July 1, 2026 through August 31, 2027

Beginning in 2027, contribution rates calculated each July 1 will apply from September 1 of that year through August 31 of the following year, aligning with the school year

Contribution rates remain tied to the School Retirement Fund's funded ratio: 9.75% if below 96% funded, decreasing to 7.25% if 100% or more funded

Declared an emergency measure, taking effect immediately upon passage and approval